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Friday, 15 November 2019

EIB investments in Egypt have reached €8.7 billion: EIB official

Ahram Online , Thursday 7 Nov 2019
Egypt's Minister of Investment Sahar Nasr, right, during her meeting with EIB's Director of Operations for Neighborhood countries Flavia Palanza in Cairo on Thursday (Photo courtesy of Ministry of Investment)
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Views: 1976

The European Investment Bank's Director of Operations for Neighbourhood countries Flavia Palanza said that the EIB's investments in Egypt amounted to 8.7 billion euros in investment in more than 95 projects in various sectors of the Egyptian government, including in renewable energy, transportation, water and sanitation, and small and medium enterprises.

The Egyptian Ministry of Investment hosted Palanza on Thursday, along with Alfredo Abad, the bank's newly appointed head of Cairo office.

The two sides discussed increasing cooperation between Egypt and the bank during the upcoming period, as well as the current cooperation portfolio, especially in the fields of tunnels, railways, water, sanitation, and investment in human capital in Egypt.

Palanza confirmed that the bank will participate in the Africa 2019 forum with a delegation headed by the EIB's Vice President Dario Scannapieco, noting the bank's keenness to strengthen future partnership with Egypt in the upcoming period.

Palanza praised the initiative of President Abdel-Fattah El-Sisi to invest in human capital, pointing out to the bank's keenness to increase investments in this filed, as well as in infrastructure, the private sector and small and medium enterprises, in favour of sustainable development and inclusive growth in the country.

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